ILEC_06.txt

person who the court considers to possess specialised knowledge or skill and who is allowed to offer an opinion as testimony in court

contract whose terms have been specifically outlined, either in writing or orally

guarantee that is created by the seller, whether oral or written

(UK) any meeting of the shareholders of a company other than the annual general meeting which is called to discuss certain special issues of a company (US special meeting)

(UK) see right of fair use; (US) duty of full disclosure imposed on corporate directors, officers and parties to a contract

(US) see right of fair use

whole interest in a piece of real property; the broadest interest in property allowed by common law

estate which lasts as long as the original grantee or any of his descendants live

obligation to act solely in the best interests of another

to officially record (e.g. in a court of law)

methods of securing funds or money

rule which distinguishes which creditor has first claim over a debtor's assets

if a buyer is buying property for a certain reason and the seller knows this, then this warranty exists by law to guarantee that the property is suitable for that certain reason. Sometimes referred to as warranty of fitness.

(UK) grant of security for a loan on a specific asset or on specific assets whereby the creditor has first claim to recover upon default by the debtor (US security interest in specific assets; (prior to UCC) chattel mortgage)

(UK) form of security interest over the debtor's assets which may change on a daily basis, such as stock; a grant of security for a loan on the company's assets in general, and not on any specific asset (US "oating lien)

refers to provisions or actions which may be enforced as law in the relevant jurisdiction; such provisions and actions have the force of law

reasonable anticipation of possible results of an action

rule that states that damages are only recoverable when it can be established that the damage was reasonably anticipated by the breaching party at the time the contract was entered into

model document or agreement with blank spaces to be filled in

act of bringing a contract into existence

place, situation or meeting in which people can discuss a particular matter (especially one of public interest)

(Latin) rule regarding the discretionary power of a court to decline to accept a case where it believes it is inconvenient for the parties and would be properly tried somewhere else

filing a lawsuit in the jurisdiction (of several available) most likely to bring a favourable outcome for the claimant

deliberate misrepresentation or concealment of a material fact to gain an advantage

act of misrepresenting or misleading someone so as to entice them to enter into a contract or agreement

property whose duration of ownership or occupation is not determined

situation where a company attempts to buy another company with approval of the board of directors of the company that is being bought

to obtain the power to direct or have influence over the management of a company

claim or interest resulting from a legal proceeding in which party A (creditor) requests a court to issue an order or writ against party B (garnishee) holding property of or owing money (e.g. bank account or wages) to party C (debtor) to release the relevant property or money to the creditor; 2) the whole process involved in the legal proceedings described in 1) above

creditor who has no lien or security for payment against the debtor's assets (also known as an unsecured creditor)